Cash America 2015 Annual Report Download - page 13

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Managing Director—Chief Information Officer, from October 2006 through March of 2008, of EMC Mortgage
Corporation, a subsidiary of Bear Stearns & Co.
Clint D. Jaynes has been the Company’s Executive Vice President—Chief Human Resources Officer since
November2015.Mr. Jaynes has held the positions of Senior Vice President—Human Resources with the Company
from February 2009 through October 2015 and Vice President—Field Human Resources with the Company from
May2006throughJanuary2009.PriortojoiningtheCompany, from 1988 through 2006, Mr.Jaynesheldvarious
roles of increasing responsibility with FedEx Kinko’s Office & Print Services, Michaels Stores, Inc., PepsiCo, Inc./
YUM! Brands, Inc., the Bombay Company, Albertson’sFoodandDrugandPier1Imports,Inc.Mr.Jaynesholdsa
Bachelor of Arts degree in Organizational Communication/Human Resources Management from Baylor University.
Personnel
As of December 31, 2015, the Company employed 6,049 persons in its operations, of whom 329 were in
corporate and administrative positions.
Tradenames and Trademarks
The Company operates primarily under the trade names “Cash America Pawn,” “SuperPawn,” “Cash
America Payday Advance,” “Cashland,” and “Mr.Payroll.”The Company has a number of trademarks that are
registered under applicable trademark laws including, but not limited to, “Cash America,” “Cashland,”
“SuperPawn” and “Mr.Payroll.”These trademarks have varying expiration dates. The Company believes these
trademarks are of material importance to the Company and anticipates maintaining and renewing them.
Franchises
Each of the Company’s unconsolidated franchised check cashing locations is subject to a franchise
agreement that is negotiated individually with each franchisee. The franchise agreements have varying durations. As
ofDecember31,2015,theCompanyhad75unconsolidatedfranchisedcheckcashinglocations.
Competition
The Company has many competitors to its pawn lending and retail operations, such as retailers of new
merchandise and retailers of pre-owned merchandise, thrift shops, rent-to-own businesses, internet retailers, internet
auction and other similar sites, other pawn lenders and other consumer loan lenders. The pawnshop industry in the
United States remains very fragmented and primarily owned by independent operators and, to a lesser extent, by
publicly-traded companies. The Company believes that it is one of the largest operators of pawnshops in the world
in terms of pawn loan balances and number of pawn lending locations. The three largest domestic publicly-traded
pawnshop companies, First Cash Financial Services, Inc., EZCORP, Inc., and the Company, operated approximately
1,600 total pawnshops in the United States in 2015. Management believes that the primary competitive factors in
the pawnshop industry are location, quality of customer service, the ability to loan competitive amounts, adequate
low-cost working capital and the ability to sell unredeemed merchandise quickly for an acceptable return.
Impediments that prevent new entrants from easily establishing new locations, particularly in heavily populated
areas, include limitations on available licenses, restrictive zoning ordinances and proximity restrictions in relation to
existing pawn locations as dictated by local ordinances and regulations.
Consumer loan lenders that offer loans online or in storefronts are a source of competition in most of the
markets where the Company offers consumer loans. The storefront growth of the consumer loan industry has been
contracting over the past several years. This is due in part to changes in laws and regulations governing consumer
loans in various states and the continued growth and development of the online lending industry. Impediments that
prevent new entrants from easily entering the consumer loan market include: the implementation of underwriting
and fraud prevention processes, high marketing and customer acquisition costs, overcoming consumer brand
loyalty, the ability to sustain sufficient capital to withstand early losses associated with unseasoned loan portfolios
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